The charging of interest has lost its purpose when it devours, or even exceeds, the profits of production. In the latter case, the productive capacity itself, and therefore the jobs, are destroyed. Current interest rates have had that effect. There are significantly higher than during the pre-war period of prosperity. And it is obvious that a healthy economy can bear higher interest rates than one that has collapsed.
A comprehensive state control of the entire banking system must eliminate this situation and reduce interest rates to a point where productive capacity and jobs can be maintained and increased.
The objection that this is impossible can be answered by saying that it is absolutely necessary. Besides that, the Brüning government has already worked to reduce interest, although to an insufficient degree, without the consequences that were predicted. If interest rates are not reduced, production will cease entirely, which will put an end to interest, with the result that inflation will once again occur, savings will be lost, and the people and government will sink into chaos.
H. Administrative and tax measures